PCI Films Consulting Report: Middle East & Africa Holds 5% of Global Flexible Packaging Market
In the Middle East and Africa, strong food and beverage supply and demand, together with substantial annual growth, have made the flexible packaging market increasingly vibrant. A recent in-depth report from PCI Films Consulting on the region's flexible packaging market confirms this trend. The report values the global flexible packaging market at USD 65 billion, with the Middle East and Africa accounting for a 5% share.
The region has a population of 1.2 billion, yet per capita flexible packaging consumption remains below USD 3. Half of regional consumption is concentrated in South Africa, Iran, Nigeria, Egypt and Saudi Arabia. As economic growth in the Middle East and Africa accelerates, demand for flexible packaging is bound to expand further, and many flexible packaging producers have already made the region a priority for future development.
Rapid economic growth and rising modernization across the Middle East and Africa are driving more beverage and food processing toward modern production. As a result, annual growth in flexible packaging demand has held at 5% and reached 7% in 2010. Nigeria, Egypt and Kenya grew faster than the average, helping regional demand become more evenly distributed, with enormous market potential.
Source: China Packaging Network (news.pack.cn). Original link: http://news.pack.cn/show-371961.html. Copyright belongs to the original author; this material is for industry exchange and learning only.
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